Storehouse Managed Investments Limited v Perpetual Nominees Limited

Storehouse Managed Investments Limited (the applicant) sought leave to appeal out of time against a decision of Perpetual Nominees Limited (the respondent). The dispute concerned the applicant's application for an extension of time to file a summons for leave to appeal. The matter was heard in the Court of Appeal of New South Wales by Beazley ACJ and Simpson JA.

The primary legal issue before the Court of Appeal was whether to grant the applicant an extension of time to file its summons for leave to appeal. This involved considering whether there was a relevant injustice to the applicant if the extension was refused and whether there was a satisfactory explanation for the delay in filing the summons. The Court also noted that the proposed draft notice of appeal had been substantially abandoned by the applicant during the hearing.

The Court of Appeal refused the application for an extension of time. Their Honours found that there was no relevant injustice to the applicant and no adequate explanation for the significant delay in filing the summons. Consequently, the applicant was ordered to pay the respondent's costs of the proceedings in the Court of Appeal on an indemnity basis. Furthermore, the applicant was prohibited from seeking indemnity from the assets of the Storehouse Property Investment Trust for these costs or for its own costs in the Court of Appeal.